The stock spiked to P6 from its Sept. 16 close of P4.17, but heavy selling dragged it down to end at P3.76.
That left the Campos family-led food and beverage giant nearly 10 percent lower than before the four-day halt, as investors remained wary after its P40-billion US unit write-off and rare audit disclaimer.
Analysts’ view
Alfred Benjamin R. Garcia, research head at AP Securities, cautioned that the sharp moves were a natural reaction to the trading halt but warned of lingering risks.
“Stocks typically swing wildly following a trading suspension as the market attempts to price in recent developments,” he told InsiderPH.
Recent events
DMPL earlier disclosed a $703.4-million write-off from its US unit, though external auditor SGV & Co. declined to sign off amid ongoing Chapter 11 bankruptcy proceedings for the American business.
On Monday, DMPL clarified that the audit disclaimer pertained only to the US business, Del Monte Foods Holdings and its subsidiaries and “had nothing to do with discrepancies in the company’s financial statements” that were recently disclosed to the Philippine Stock Exchange.
With the US business having been removed from its books, it expects profitability in 2026 “on the strength and momentum of the Philippines and international businesses, driven by Del Monte Philippines Inc.”
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
